Senate Bill 1990, also known as the "Stop Rent Rigging Act," aims to amend Tennessee law regarding the manipulation of rental prices. The bill introduces a new section to Tennessee Code Annotated, Title 47, Chapter 25, Part 1, defining key terms such as "algorithm," "algorithmic device," and "coordinating function." It establishes that it is unlawful for individuals or entities to facilitate agreements among residential rental property owners or managers that restrict competition in rental pricing. This includes the use of software or algorithms that coordinate pricing strategies among multiple property owners or managers.

Additionally, the bill prohibits residential rental property owners or managers from setting or adjusting rental prices and lease terms based on recommendations from such algorithmic devices. Violations of these provisions would incur civil and criminal penalties equivalent to those outlined in existing law. The act is set to take effect on July 1, 2026, emphasizing the importance of fair competition in the rental market.